China's growth was slower than expected during the second quarter.
GDP rose by 4.7 percent compared to the same period last year – the lowest rate in five quarters.
Analysts had expected a growth rate of 5.1 percent, according to a Bloomberg survey.
Retail sales increased by 2 percent in June compared to last year – the slowest rate since 2022 and significantly lower than analysts' expectations of 3.4 percent.
Industrial production rose by 5.3 percent in June, slightly above expectations of 5 percent.
The growth rate for investments in fixed assets was 3.9 percent, in line with expectations.
Another cloud on the horizon for the Chinese economy is housing prices, which continued to fall in June.
Prices for newly built homes in 70 cities, excluding government-subsidized housing, fell by 0.67 percent last month. In May, the decline was 0.71 percent – the largest since October 2014.
The decline in the housing market is taking place despite China introducing a broad package in May aimed at easing mortgage rules and encouraging local authorities to buy unsold homes.
The growth figures for the second quarter are notable as the first free from distortion due to the pandemic in comparison with the previous year. Looking at the whole first half, the GDP growth rate was five percent, which is in line with Beijing's annual target.
The figures were published on the same day as President Xi Jinping begins one of the year's most important events in Chinese politics – the third plenum – a meeting where policies that can change the direction of the country's economy are often announced.
